ITAT deletes addition made u/s 69 of Income Tax Act on Account of Gold Loan obtained from Partner which recorded under Books of Account [Read Order]

ITAT - Income - Tax - Act - Account - Gold - Loan - Partner - recorded - Books - Account - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Kolkata Bench deleted the addition made under Section 69 of Income Tax Act, 1961 on account of gold loan obtained from partner which was recorded under books of account. Assessee, H.K. Dutta & Co is a partnership firm engaged in the business of manufacturing and sale of gold jewellery…

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